48 Harton Road, Edmonton, London, N9 0SG

Description

A Vacant Ground Floor Two Bedroom Flat. The property comprises a ground floor two bedroom flat situated within an end of terrace building arranged over ground and first floors.

Accommodation

Ground Floor: Reception Room, Kitchen, Two Bedrooms, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Montagu Recreation Ground are within easy reach. Transport links are provided by Silver Street overground station and Meridian Water rail station.

Tenure / Property Information

Investment Analysis

The only supplied same-property completed sale is £173,000 on 6 January 2020. This is useful evidence but dated, and the flat now has approximately 58 years unexpired versus approximately 64 years at that sale. No current comparable or formal valuation is supplied, so £173,000 is used as the base GDV only, not as a current valuation. The £1,685 pcm figure is one advertised asking rent and is not an achieved rent.

Investment Snapshot

Strategy Recommendation

Conditional BTL or BRRR appraisal only after reviewing the legal pack, confirming lease terms and charges, inspecting condition, and testing achievable rent and mortgageability. Do not rely on the headline yield or historical GDV without current valuation evidence.

Works Required

No specific defects or refurbishment requirements are evidenced. Allowance is therefore £0 for calculation purposes only; inspect the flat and verify condition, statutory compliance and any lease-related obligations before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the historical same-property sale as a £173,000 base GDV, 75% of GDV is £129,750. Against the £81,800 purchase plus known admin charge, this indicates substantial theoretical refinance headroom. However, the GDV is based on a 2020 sale, the lease is relatively short, and no refurbishment budget, lender valuation, lease-extension cost or finance costs are supplied. Refinance viability is therefore unconfirmed.

Buy-to-Let Analysis

At the £80,000 guide, the advertised £1,685 pcm rent implies approximately 25.3% gross yield; including the known £1,800 admin charge, approximately 24.7%. This is based on an asking rent rather than achieved rent and excludes unknown service charges, ground rent, insurance, maintenance, voids, finance, tax and disbursements. The approximately 58-year lease is a material lettability, valuation and mortgageability consideration.

Flip Analysis

The historical 2020 same-property sale provides a base GDV of £173,000 against the £80,000 guide, but it is not a current resale valuation. No selling allowance, refurbishment cost, finance cost or current market evidence is supplied, so a reliable flip surplus cannot be calculated. The short lease and unknown disbursements may materially reduce resale proceeds.

Investor Risks & Due Diligence

• Approximately 58 years remain on the lease, creating potential valuation, mortgageability and resale issues.

• The £173,000 GDV evidence is a single completed sale from January 2020 and may not represent current value.

• The £1,685 pcm figure is an advertised asking rent, not an achieved or passing rent.

• Property condition and any refurbishment requirements are not evidenced.

• Buyer premium, service charge, ground rent, council tax, heating, parking and legal-pack disbursements are not supplied.

• Refinance assumptions depend on a future lender valuation and lease acceptability.

Recommendation

Conditional BTL or BRRR appraisal only after reviewing the legal pack, confirming lease terms and charges, inspecting condition, and testing achievable rent and mortgageability. Do not rely on the headline yield or historical GDV without current valuation evidence.

Strategy Rating

Analysis Confidence

The analysis has a guide price, one dated same-property sale, one advertised rent and a known admin charge, but lacks current comparables, condition evidence, lease-cost details, achieved rent, service charges, ground rent, disbursements and selling or finance costs.